免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。 每日经济新闻 （记者 王晓波） 每经AI快讯，环球富盛理财1月30日发布中仑新材（301565.SZ）研报：1）在建项目为公司发展奠定基 础；2）公司为BOPA膜材龙头企业；3）布局BOPP新能源膜材打造第二成长曲线；4）经过数年的耕耘 和发展，公司已积淀形成深厚的技术优势；5）公司将紧密跟踪固态电池产业化进程。风险提示：原材 料价格波动风险、汇率波动的风险、业务规模扩张带来的管理风险。 每经头条（nbdtoutiao）——核电建设热潮下，设备厂忙到"飞起"！订单已排至2028年，员工三班倒， 产线24小时不停 ...

证券代码： 301565 证券简称：中仑新材 中仑新材料股份有限公司 母料配方设计、性能优化形成了系统而成熟的掌握体系，还在多 种材料共混改性、精密共挤工艺方面取得重大突破，实现了材料 性能的定向提升与功能复合。 公司依托自身领先的工艺技术水平和对材料特性的充分理 解，以终端消费市场需求和发展趋势为导向，通过不同材料功能 配方调配及工艺技术的优化，在实现高质量产品交付的基础上， 进一步开发出一系列能适应多种应用场景的新型膜材，如"PHA 锂电膜""固态电池专用膜材""电容膜""电芯膜""EHA锁鲜型薄 膜""TSA秒撕型薄膜""MATT消光型薄膜"等，以满足定制化、差 异化、高端化的终端市场需求。 2、公司的固态电池BOPA专用膜材能否适应固态电池的发 展需求？公司的产品有哪些技术优势？目前业务发展状况如 何？ 随着电池技术的发展，固态电池因其高能量密度、高安全性、 长循环寿命等诸多优势，被视为下一代动力电池技术的重要发展 方向。不同于传统液态电池，预计固态电池将采用软包的封装形 式。其中搭载固态电池专用BOPA膜材的软包封装方案具备更显 著的技术适配性：（1）相较于圆柱或方形电池采用的卷绕工艺， 由于无机固 ...

Core Viewpoint - The global market for BOPP (Biaxially Oriented Polypropylene) films is highly concentrated in regions like Japan and Europe, where overseas manufacturers hold a technological advantage and dominate the high-end capacitor film market. Domestic manufacturers in China have developed later and primarily produce medium and thick films, leading to a significant gap in high-end ultra-thin electric-grade films, which are in high demand from downstream sectors like new energy vehicles and renewable energy [1]. Industry Summary - The global production capacity of electric-grade BOPP films is heavily concentrated in Japan and Europe, with these regions maintaining a leading position in technology and talent [1]. - Overseas manufacturers have established a strong foothold in the high-end capacitor film market, benefiting from early market entry and extensive technical reserves [1]. - The domestic BOPP film industry in China has achieved scale production but primarily focuses on medium and thick films, resulting in a long-term capacity shortfall for high-end ultra-thin films [1]. - There is a high dependency on imported products among downstream film capacitor manufacturers in China, with only a few local companies capable of mass production of high-end ultra-thin films [1].

Core Viewpoint - The company has successfully launched its first BOPP (Biaxially Oriented Polypropylene) film production line and is progressing with its expansion plans for additional production lines [1] Group 1: Production Progress - The first BOPP new energy film production line was officially put into operation in November 2025 [1] - The second production line is expected to commence operations in the second half of 2026 [1] - The first production line has achieved stable mass production of BOPP capacitor film products in various thicknesses [1] Group 2: Production Capacity and Future Plans - The focus of the BOPP production line is on thin and ultra-thin film products, with an estimated annual production capacity of approximately 2,400 tons per line, depending on product thickness [1] - The overall project plans to construct nine production lines, with the first phase involving the launch of two lines [1] - Future production line investments will be phased based on market demand changes [1]

Core Viewpoint - The company Zhonglun New Materials (301565) highlights the low domestic localization rate of electrical-grade polypropylene resin, which is crucial for BOPP (Biaxially Oriented Polypropylene) film production, and emphasizes the reliance on overseas suppliers for raw materials [1] Group 1: Industry Insights - The core raw material for BOPP new energy film is electrical-grade polypropylene, with the current domestic localization rate remaining low [1] - Major domestic chemical enterprises are working on technological advancements for the production of electrical-grade polypropylene resin [1] - The BOPP capacitor film industry has high entry barriers, primarily due to the quality differences in raw materials and the maturity of production technology [1] Group 2: Company Strategy - The company primarily sources electrical-grade polypropylene from overseas suppliers such as Nordic Chemicals, Korean Oil, and Singapore TPC [1] - The quality of polypropylene resin directly impacts the performance of the final product, creating a foundational barrier to entry [1] - The maturity of stretching technology and the uniqueness of masterbatch formulations are critical competitive barriers in achieving special product performance [1]

Core Viewpoint - The company has successfully launched its first BOPP (Biaxially Oriented Polypropylene) new energy film production line in November 2025, with a second line expected to commence production in the second half of 2026 [2] Production Capacity and Product Focus - The first production line has achieved stable mass production of BOPP capacitor film products of varying thicknesses, with thin film products having completed downstream customer verification and entered the mass delivery phase [2] - The ultra-thin film products have been successfully produced and are currently undergoing downstream customer verification [2] - The BOPP production lines focus on the thin and ultra-thin film product segments, with an estimated annual production capacity of approximately 24 million tons per line, depending on product thickness [2] Future Expansion Plans - The overall project plans to construct nine production lines, with the first phase involving the launch of two lines, and subsequent lines to be developed based on market demand changes [2]

Production Capacity and Planning - The current annual production capacity of PA6 chips is 145,000 tons, with a planned additional capacity of 210,000 tons by 2027, including 140,000 tons from IPO funding and 70,000 tons from self-financing [1] - The company has 14 BOPA film production lines with a total capacity of 145,000 tons, with plans to add 40,000 tons in the Quanzhou base and 90,000 tons in Indonesia by 2027 [2] Market and Customer Insights - In the first half of 2025, overseas revenue accounted for over 50% of total sales, indicating significant growth in international markets [3] - The company has established a strong overseas marketing team, covering key regions such as Europe and Southeast Asia, which supports market expansion after the establishment of production capacity in Indonesia [7] Product Development and Technology - The first BOPP film production line was launched in November 2025, with a second line expected in late 2026, focusing on thin and ultra-thin film products [4] - BOPP film production lines are expected to have an annual capacity of approximately 24,000 tons, depending on product thickness, with a total of nine lines planned [4] Raw Material Supply and Industry Barriers - The supply of electrical-grade polypropylene remains low in domestic production, with the company sourcing materials from overseas suppliers [5] - The BOPP capacitor film industry has high entry barriers due to the quality of raw materials and the maturity of production technology, which are critical for product performance [5] Customer Base and Sales Growth - Recent sales growth has been driven by both existing and new customers, with a focus on increasing coverage of small and medium-sized clients [6] - The company benefits from stable demand from large enterprises, which helps optimize production scheduling and capacity utilization [6] Environmental Initiatives - BOPLA, a biodegradable film material made from polylactic acid, offers strong biodegradability and physical strength, making it suitable for various applications while supporting sustainability goals [8][9] - BOPA film materials provide excellent barrier properties, extending the shelf life of products and reducing the need for additives, making them ideal for food and consumer goods [9]

Core Viewpoint - The company has successfully launched its high-performance capacitor film product, BOPP new energy film, and is receiving positive feedback from major industry clients [2] Group 1: Product Launch - The company held a global launch event for its high-performance capacitor film on November 3 [2] - The production line is operating smoothly, with efficient coordination across all processes [2] - The company has completed product sample testing for major industry clients, receiving positive feedback on performance and application compatibility [2] Group 2: Client Engagement - The company is actively progressing in customer collaborations and will disclose relevant orders as per information disclosure standards [2] - Client recognition and acceptance of the product are continuously improving [2]